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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

 

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of report (Date of earliest event reported): February 5, 2024

 

GLOBAL PARTNERS LP

(Exact name of registrant as specified in its charter)

 

Delaware 001-32593 74-3140887

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

 

P.O. Box 9161

800 South Street

Waltham, Massachusetts 02454-9161

(Address of Principal Executive Offices)

 

(781) 894-8800

(Registrant’s telephone number, including area code)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)  

Name of each exchange on which registered

Common Units representing limited partner interests   GLP   New York Stock Exchange
Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units representing limited partner interests   GLP pr A   New York Stock Exchange
9.50% Series B Fixed Rate Cumulative Redeemable Perpetual Preferred Units representing limited partner interests   GLP pr B  

New York Stock Exchange

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company  ¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

 

 

  

 

 

Item 2.03.Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

 

On February 5, 2024, Global Partners LP (the “Partnership”), as guarantor, and certain of its subsidiaries, as borrowers, agreed with the lenders party to the Partnership’s Third Amended and Restated Credit Agreement dated April 25, 2017 (as amended, the “Credit Agreement”) pursuant to the terms of the Credit Agreement to:

 

(a)Reallocate $300 million of the Aggregate Revolver Commitment to the Aggregate WC Commitment; and

 

(b)Reduce the Aggregate WC Interim Commitment from $200 million to $0 on the date the Reallocation becomes effective.

 

The effective date for such reallocation and reduction is February 8, 2024. This reallocation and reduction return the credit facility to the terms in place prior to the reallocation and accordion exercise previously disclosed in the Current Report on Form 8-K filed on December 12, 2023.

 

Capitalized terms used but not defined herein have the meanings respectively ascribed to such terms in the Credit Agreement. All other material terms of the Credit Agreement remain the same as disclosed in the Partnership’s Quarterly Report on Form 10-Q for the calendar quarter ended September 30, 2023 and the Partnership’s Annual Report on Form 10-K for the year ended December 31, 2022.

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

  GLOBAL PARTNERS LP
     
  By: Global GP LLC
    its general partner
     
     
Dated: February 8, 2024 By: /s/ Sean T. Geary
  Sean T. Geary
    Chief Legal Officer and Secretary

 

 

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Cover
Feb. 05, 2024
Document Information [Line Items]  
Document Type 8-K
Amendment Flag false
Document Period End Date Feb. 05, 2024
Entity File Number 001-32593
Entity Registrant Name GLOBAL PARTNERS LP
Entity Central Index Key 0001323468
Entity Tax Identification Number 74-3140887
Entity Incorporation, State or Country Code DE
Entity Address, Address Line One P.O. Box 9161
Entity Address, Address Line Two 800 South Street
Entity Address, City or Town Waltham
Entity Address, State or Province MA
Entity Address, Postal Zip Code 02454-9161
City Area Code 781
Local Phone Number 894-8800
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Common Units representing limited partner interests [Member]  
Document Information [Line Items]  
Title of 12(b) Security Common Units representing limited partner interests
Trading Symbol GLP
Security Exchange Name NYSE
Series A Preferred Stock [Member]  
Document Information [Line Items]  
Title of 12(b) Security Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units representing limited partner interests
Trading Symbol GLP pr A
Security Exchange Name NYSE
Series B Preferred Stock [Member]  
Document Information [Line Items]  
Title of 12(b) Security 9.50% Series B Fixed Rate Cumulative Redeemable Perpetual Preferred Units representing limited partner interests
Trading Symbol GLP pr B
Security Exchange Name NYSE
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